This bill amends the existing law regarding the Rural Economic Transportation Reliability and Optimization Fund, specifically updating the population limitation from seventy-five thousand (75,000) to fifty thousand (50,000) and changing the administering body from the Oklahoma Department of Transportation to a newly defined structure. It establishes that the fund will consist of general revenues appropriated by law and ensures that any appropriations to the fund do not decrease traditional state transportation funding levels. The bill also mandates that the State Board of Equalization will review the use of these funds annually to ensure they enhance rather than supplant existing state funding for transportation.

Additionally, the bill appropriates $200 million from the General Revenue Fund to the Rural Economic Transportation Reliability and Optimization Fund for the fiscal year ending June 30, 2026. This funding is intended to assist in the prioritization of construction, repair, and maintenance of state highways in rural areas experiencing significant traffic increases due to robust economic development. The act is set to take effect on July 1, 2025, and includes an emergency clause for immediate implementation upon passage and approval.

Statutes affected:
Introduced: 69-1913